PennantPark Investment Corporation (NASDAQ:PNNT) – SunTrust Banks reduced their Q4 2017 earnings estimates for PennantPark Investment Corporation in a note issued to investors on Tuesday. SunTrust Banks analyst D. Mewhirter now anticipates that the asset manager will post earnings of $0.19 per share for the quarter, down from their prior forecast of $0.21. SunTrust Banks also issued estimates for PennantPark Investment Corporation’s Q1 2018 earnings at $0.20 EPS, Q2 2018 earnings at $0.18 EPS, Q3 2018 earnings at $0.18 EPS, Q4 2018 earnings at $0.18 EPS and FY2018 earnings at $0.74 EPS.

PNNT has been the subject of several other research reports. Zacks Investment Research raised PennantPark Investment Corporation from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Wednesday, May 3rd. J P Morgan Chase & Co raised PennantPark Investment Corporation from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $8.00 to $8.50 in a research report on Wednesday. Keefe, Bruyette & Woods set a $9.00 price target on PennantPark Investment Corporation and gave the stock a “hold” rating in a research report on Monday, May 22nd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $8.00 price target on shares of PennantPark Investment Corporation in a research report on Friday, July 14th. Finally, JMP Securities lowered PennantPark Investment Corporation from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 11th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. PennantPark Investment Corporation has an average rating of “Hold” and an average target price of $8.22.

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PennantPark Investment Corporation (NASDAQ:PNNT) remained flat at $7.68 on Thursday. 38,228 shares of the company’s stock traded hands. The company’s 50 day moving average is $7.44 and its 200 day moving average is $7.81. PennantPark Investment Corporation has a 52 week low of $6.86 and a 52 week high of $8.68.

PennantPark Investment Corporation (NASDAQ:PNNT) last issued its quarterly earnings results on Monday, August 7th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.02. PennantPark Investment Corporation had a return on equity of 9.11% and a net margin of 53.92%. The firm had revenue of $31.10 million during the quarter, compared to analyst estimates of $31.09 million. During the same quarter last year, the firm posted $0.25 EPS. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis.

A number of institutional investors have recently modified their holdings of the company. Global X Management Co. LLC raised its position in shares of PennantPark Investment Corporation by 50.1% in the first quarter. Global X Management Co. LLC now owns 16,664 shares of the asset manager’s stock worth $136,000 after buying an additional 5,563 shares during the period. Stifel Financial Corp raised its position in shares of PennantPark Investment Corporation by 43.8% in the first quarter. Stifel Financial Corp now owns 18,400 shares of the asset manager’s stock worth $147,000 after buying an additional 5,600 shares during the period. Private Advisor Group LLC raised its position in shares of PennantPark Investment Corporation by 0.6% in the second quarter. Private Advisor Group LLC now owns 28,606 shares of the asset manager’s stock worth $212,000 after buying an additional 166 shares during the period. BlueCrest Capital Management Ltd acquired a new position in shares of PennantPark Investment Corporation during the first quarter worth $217,000. Finally, Trexquant Investment LP acquired a new position in shares of PennantPark Investment Corporation during the second quarter worth $219,000. 43.84% of the stock is owned by institutional investors and hedge funds.

In other PennantPark Investment Corporation news, Chairman Arthur H. Penn bought 32,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was acquired at an average price of $7.72 per share, with a total value of $247,040.00. Following the transaction, the chairman now owns 183,400 shares in the company, valued at $1,415,848. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Arthur H. Penn bought 28,000 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was acquired at an average cost of $7.78 per share, with a total value of $217,840.00. Following the transaction, the chairman now owns 183,400 shares in the company, valued at approximately $1,426,852. The disclosure for this purchase can be found here. In the last three months, insiders acquired 77,000 shares of company stock valued at $596,970. 1.90% of the stock is owned by insiders.

About PennantPark Investment Corporation

PennantPark Investment Corporation is a closed-end, non-diversified investment company. The Company is a business development company. Its objectives are to generate both current income and capital appreciation while seeking to preserve capital through debt and equity investments primarily made to the United States middle-market companies in the form of senior secured debt, mezzanine debt and equity investments.

Earnings History and Estimates for PennantPark Investment Corporation (NASDAQ:PNNT)

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